First-quarter GDP climbs at lackluster 1.1% pace as U.S. businesses retrench
The U.S. economy grew at a soft 1.1% annual pace in the first three months of this year, as strong consumer spending was offset by declining business investment.
Economic Report
Pending home sales fall for the first time since November
Contract signings on U.S. homes fell for the first time since last November, as buyers faced a tough market in March due to an undersupply of houses.
U.S. jobless claims fall sharply in latest week
Initial jobless claims fell by 16,000 to 230,000 in the week ended April 22, the U.S. Labor Department said Thursday.
The economy got off to fast start this year, U.S. GDP to show, but a recession may loom
A good start for the economy this year could yield a healthy gain in gross domestic product in the first quarter, but the rest of the year doesn't look so hot.
Durable-goods orders get Boeing boost, but waning investment sends out bad vibes for the economy
Orders for manufactured goods got a boost in March from contracts for Boeing planes, but business investment fell again in another sign of a slowing economy.
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U.S. trade deficit in goods shrinks to 4-month low on lower oil prices and rebound in exports
The U.S. trade deficit in goods shrank 8.4% in March to a four-month low due a snapback in exports, potentially giving a small lift to first-quarter GDP.
Mortgage rates rise to highest levels in over a month, but buyers are unfazed
Mortgage applications rose 3.7% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.55%.
U.S. consumer confidence falls to 9-month low on worries about jobs and recession
A survey of U.S. consumer confidence fell in April to a nine-month low of 101.3, reflecting nagging worries about a possible recession and a softening labor market.
U.S. new home sales surge 9.6% in March as home buyers turn to builders
New home sales at 683,000 annual rate in March versus 623,000 in prior month.
U.S. home prices rise for first time in 8 months, Case-Shiller says
Case-Shiller 20-city home price index up 0.1% in February.
Fears are fading of a so-called credit crunch that would harm the U.S. economy
Are people having trouble getting loans? Are we facing a nationwide credit crunch? Is a rattled U.S. banking industry retreating into a protective shell?
Mortgage rates increase for the first time in over a month. Here’s why.
The 30-year mortgage rate is averaging at 6.39%, Freddie Mac said in its latest weekly survey on Thursday.
Banks increased lending for second straight week, Fed data show
Most of the increase in lending came from small domestic banks, according to Federal Reserve data released Friday.
U.S. economy improved in early April, S&P Global says
The S&P Global early reading of the economy in April showed that the service and manufacturing sectors both improved markedly.
The U.S. economy is headed toward recession: That’s what the leading index keeps signaling.
The U.S. leading economic index sank 1.2% in March and declined for the 12th month in a row, continuing to signal a recession later in 2023.
U.S. existing-home prices fall nearly 1% in March, the biggest drop in a decade
Existing-home sales fell to a rate of 4.44 million in March, the National Association of Realtors said.
Jobless claims climb to 245,000, signaling slight cooling in hot labor market
The number of Americans who applied for unemployment benefits last week rose by 5,000 to a total of 245,000, pointing to a small but steady increase in layoffs.
Philadelphia Fed’s factory gauge slumps deeper into contraction in April
The Philadelphia Fed said Thursday its gauge of regional business activity slumped to negative 31.3 in April from negative 23.2 in the prior month.
Mortgage demand drops sharply as 30-year mortgage rate rises
Mortgage applications fell 8.8% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.43%.
Lingering double-digit inflation sends U.K. bond yields higher
U.K. bond yields jumped Wednesday after data showing inflation lingering above 10%.
U.S. housing starts decline in March as apartment construction cools
Construction of new U.S. homes fell 0.8% in March, the Commerce Department said Tuesday.
First-quarter GDP looks pretty good. The rest of the year doesn’t look so hot.
The U.S. economy got off to a surprisingly good start in 2023, but growth appears set to falter in the rest of the year as higher interest rates take a bigger bite.
Builder confidence rises for fourth consecutive month amid low number of resale listings
Home-builder sentiment rose for the fourth month in a row in April, the National Association of Home Builders said.
New York factory index shows increase in activity for first time in five months
The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, jumped 35.4 points in April to 10.8.
Most Americans say it’s a bad time to buy a home, according to Fannie Mae. Here’s why.
'A large majority of consumers continue to believe that it’s a bad time to buy a home,' Fannie Mae's Mark Palim said.
